USD VISA Debit Card
International transactions has been a part of daily business these days. A lot of international transactions happen daily. In countries like Nepal, International transactions happen in high volume due to exports and imports. However, knowledge has been the barrier to exporting and importing goods. Local businesses are not able to reach the global market.
Most of the people in Nepal face difficulties in international transactions and even get scammed or are obliged to do transactions at a loss paying a huge amount of commission to the brokers and agents. To overcome this, many banks have introduced the easiest means of foreign transactions in Nepal. The USD VISA Debit card (MasterCard) is one of the easiest and safest methods of foreign transactions from Nepal. This helps Nepalese to do the foreign transactions on their own. But, most people don’t know about the USD Visa debit card and how to make it. Techy gen will help you make USD VISA debit cards in Nepal for international transactions.
Why is USD VISA Debit Card Necessary for Nepali People?
USD Visa card is one of the most necessary things people require these days. Here are some of the reasons why USD Visa Debit Card is Essential to the Nepali People.
- For expanding the local business to the global level.
- To promote e-sports and e-learning.
- It allows Nepali citizen to do online jobs, surveys and other offers.
- To import raw materials from online stores from foreign for a startup or business.
- For the transaction of money with relatives and closed ones from froeign countries.
International Debit Card Transaction Provision By NRB
Nepal Rastra Bank (NRB) is the bank that sets the provision for the international debit card transaction in Nepal. Nepal Rastra Bank provides the permission of International transactions to other banks and financial institutions.
Nepal Rastra Bank will limit the maximum and minimum foreign transaction, transaction and income sources. Find the provision of online payment and cashless transactions by clicking here.
Banks that Provide VISA Debit Card Service in Nepal
Nowadays there are a lot of banks that provide the VISA debit card service for international transactions in Nepal. It has become a way easier to make a VISA debit card. All you have to do is meet the protocols set by the banks and follow all the instructions. These are the banks that provide you VISA debit card service in Nepal.
- Nepal Bank Limited
- NIC ASIA Bank
- Prime Commercial Bank
- Nepal Investment Bank Limited
- Himalayan Bank
- Everest Bank
- Garima Bikas Bank
- NMB Bank
- Rastriya Banijaya Bank
- Jyoti Bikash Bank
- Muktinath Bikash Bank
- Bank of Kathmandu
- Civil Bank
- Sunrise Bank
- Standard Chartered Bank
- Siddhartha Bank
- Prabhu Bank
- Kamana Sewa Bikash Bank
- Sanima Bikash Bank
If your bank is not in the list please, comment the name of the bank and we will tell you whether it offers the VISA debit card or not.
How can we get USD VISA Debit cards form commercial Banks in Nepal?
The process of making the USD VISA debit card can vary a little according to the bank. But, as the protocols are set by the Nepal Rastra Bank, almost all the process and services are same. Here are the step wise guide on how you can get USD VISA debit cards from commercial banks in Nepal.
- You need to have a savings account in your bank.
- Check whether your bank offers VISA debit card service or not.
- If your bank offers VISA debit card, service then you need to visit the nearby Bank.
- Yo need to fill a form for the VISA debit card. The form includes your personal details and informations.
- The form includes your family details, adress and your photo. Fill all the mandatory sections with proper information.
- The form also has some of the space for the Bank’s official use. You shouldn’t fill the section by yourself.
- Then you should sign the application form with your official signature.
- Submit the form, the bank will review the form and charge you accordingly.
- The VISA debit card has validity time set by the bank. The time may be 3 years to 5 years. You’ll need to renew after the validity expires.
Who can get USD VISA debit cards in Nepal?
Nepali citizens who have a source of income from a job or a business and should be 21 years old can get USD VISA card. Some of the banks provide the USD VISA debit cards to the students whereas some banks donot provide the debit card service to the students. Any Nepali citizen with a savings account in bank and meet the criteria can get the USD VISA debit cards in Nepal.
The monthly income for a citizen to get a VISA card should be NPR 20,000 or above monthly for an employee and NPR 150,000 annual income for businessman/businesswoman.
Who cannot get USD VISA debit Cards in Nepal?
Anyone who doesn’t have a bank account and age under 21 years old are ineligible to get a VISA debit card in Nepal. One should be considered eligible by the banks as per their criteria for getting the USD VISA debit cards in Nepal.
Anyone who is beyond the law of the international transactions cannot get USD VISA credit card in Nepal.
Laws of Electronic Payment in Nepal
All the people doing the cashless transactions and electronics payment in Nepal should obey the electronic transaction act made by the Nepal Law Commision. You can read the electronic transaction acts here.
Anyone who violates the law of electronic transaction acts are considered as guilty and are punished by the government as per the laws.
Helpfulness and Limitations
The VISA debit card is very useful in international transactions. It is safer to travel and do business trips with the help of safe debit cards.
Some of the limitations of VISA debit cards in Nepal are:
- High Interest Rate
- Overspending of money
- Risks of online frauds
- Annual fee, Renewal fee and international transaction fees
- Misuse of cards in illegal activities and others.
In the End
Knowing about VISA debit card and its applications, people are benefitted by many ways. As cashless transactions are increasing day by day, every people should have knowledge about the cashless transactions. The VISA debit card has helped people to do foreign transactions easily and simply. Share this article and help other know about the VISA debit card. Thank you for reading this article.